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Global Wireless Charging Integrated Circuits (ICs) Market, an efficient and reliable way to charge electronics devices to reach USD 8,523.5 million by 2023

NEW YORK, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Global Wireless Charging Integrated Circuits (ICs) market is expected to grow significantly from USD 1,809.9 Million in 2016, to USD 8,523.5 Million in 2023, at a CAGR of 25.2% from 2017 to 2023. Factors driving the growth of the wireless charging ICs market include high demand for the smart phones, tablets, laptops, digital cameras, surging need for electric vehicle infrastructure and increasing processing power of gadgets. Efficient integration of power systems on ICs intends to the expansion of various portable consumer electronics. Advanced technology as well as compact design of ICs propels the growth rate of the global wireless charging ICs market rapidly. However, size and complex integration with multi power system remains to be key restraints hindering the market growth.

Wireless charging technology involves power transmission through an air gap to the electrical devices for the motive of transfer of energy. Wireless technology is employed to eliminate the use of physical connectors & cables. Technology provides safe and reliable method to charge millions of devices at different locations. Wireless charging finds its application in various products such as smart phones, wearable devices and computing devices.

The global wireless integrated circuit market is segmented on the basis of power solution, product, component, application and region. Segmentation of the global wireless charging ICs market, on the basis of power solutions includes low power solution, medium power solution and high power solution. Based on product, wireless charging IC market is bifurcated into Transmitter IC and Receiver IC. On the basis of component, it further segmented into relays, circuit breakers and others.Based on application, wireless charging IC is employed in various verticals such as surgical tools, Smart phones, wearable devices and tablets.

The transmitter ICs segment was the fastest segment in the global wireless charging ICs market in 2016

The receiver ICs segment is expected to hold the major market share during the forecast period

• On the basis of application:

The smart phones and tablets segment was the largest segment in 2016

• On the basis of component:

The circuit breakers segment was the largest segment and is expected to hold the major market share during the forecast period. The factors driving the circuit breakers segment in the global wireless charging ICs market are circuit breakers prevent the internal damage of electrical devices from high electricity current

• Increasing demand of the handheld devices and smart-phones makes wireless charging ICs technology more popular among hand held device consumer electronics manufacturers

• Asia-Pacific region is expected to hold the major market share in the global wireless charging ICs market owing to increasing adoption of such ICs across various sectors including consumer electronics and automotive

Wireless Charging ICs market- an efficient and reliable way to charge electronic devices

Wireless charging finds its application in various products such as smart phones, wearable devices and computing devices. Efficient integration of power systems on ICs intends to the expansion of various portable consumer electronics and also prevents electrical devices from high electricity current.

Global Wireless Charging ICs market - Regional Insight

The global wireless charging ICs market is segmented on North America, Europe, Asia-Pacific and Rest of World. Asia-Pacific holds the major market share in the global wireless charging ICs market during the forecast period. Factors such as growing awareness of wireless power technology and increasing adoption of such ICs across multiple areas, majorly automotive and consumer electronics is expected to propel the growth in the region. Rising demand of smart devices are responsible for growth of the wireless charging ICs market. North America region is expected to be the fastest growing market of wireless charging across the globe during the forecast period. Increasing supply of wireless charging ICs such as integrated device technology, Intel and Qualcomm, further fuels the market growth for wireless charging ICs in this region.

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